Russian rouble strengthens past 79 against dollar to near two-year high

The Russian rouble strengthened beyond the 79-per-dollar level on Thursday for the first time since early June 2023, according to LSEG data based on OTC quotes.

The currency has gained over 40% against the dollar this year, a surge analysts link to easing geopolitical tensions—particularly with U.S. President Donald Trump's administration—and the central bank’s tight monetary policy, which has curbed demand for foreign currency.